The five central trade unions collectively represent almost the entire workforce at Coal India. A days strike could lead to production loss to the extent of 2 million tonnes at a time when the power sector is seeing increased demand for coal.

The Cabinet Committee on Economic Affairs (CCEA) recently approved the methodology for auction of coal mines and blocks for sale of coal in the open market. Under this, the highest bidder will be given mining rights and there are no restrictions on end-use.

The move, which would not just help attract foreign investment but also bring in efficiency and promote competition, follows government's decision of opening up the coal sector to commercial mining by private entities.

In December 2013, a bill to create a regulatory authority in coal was introduced in Lok Sabha but did not get through before the House was dissolved. NDA should revive and tweak it to meet future needs.

​​The nationalisation of coal in 1973 has clearly been at a huge national cost, and we do need to rapidly boost productivity in mining, beneficiation and evacuation of what is currently our singlemost-important source of energy.

The Centre of Indian Trade Unions (CITU) vehemently condemns the decision of the Cabinet Committee on Economic Affairs (CCEA) to open the coal mining sector for commercial mining by private and foreign corporates.

​The move will have significant positive impact across multiple sectors including power generation, and manufacturing industries apart from ramifications for stressed power assets, merchant power prices and volume of coal imports, they said.

FICCI welcomes Ministry of Coal's announcement to introduce commercial mining of coal and sees it as a positive policy direction towards development of a market-based economy that will be supporting the growth of industrial sectors dependent on coal as fuel, Ficci President Pankaj R Patel said in a statement.